'Paper'ing over the cracks

Independent directors - cats on a hot tin roof

The comparison is odious, but it best explains the situation. The concept of an independent director (ID) is like a fishbone, stuck in the throat, which cannot be easily swallowed or spat out. Unlike in the case of the fishbone, where the intent to deal with it swiftly is unambiguous, the case of the ID is shrouded in confusion and avoidable complexity.

One way that has been found to deal with the problem of the ID is to put out yet another paper for consultation. The armchair commentariat, with their feet firmly in their mouth, will then pronounce on matters of